On March 18, the world of cryptocurrency welcomed a new coin called “ApeCoin.” This cryptocurrency is the latest sensation in the crypto market, and many crypto investors are closely following and pursuing it. ApeCoin is a cryptocurrency that fuels the APE NFT ecosystem. The token is also available on global exchanges such as Binance and OKX. The Ape coin is the cryptocurrency created by the Bored Ape Yacht Club, which has grown in popularity in recent months. Let’s delve deeper to learn more about it.
Everything about ApeCoin
ApeCoin, also known as APE, is an ERC-20 utility and governance token that is known to be used within the APE ecosystem to incentivize and empower an entire decentralized community building at the forefront of Web3.
Furthermore, ApeCoin holders are said to govern themselves using the decentralized governance framework that controls the Ape Coin DAO (decentralized autonomous organization) and vote on how the Ape Coin DAO Ecosystem Fund should be used.
Aside from that, the APE Foundation manages proposals that ApeCoin holders have already agreed upon. Before proceeding, it is probably worth noting that ApeCoin is a decentralized project that was inspired by Yuga Labs’ Bored Ape Yacht Club project. ApeCoin was also created to be used within the burgeoning APE Ecosystem, which, as previously stated, is supported by the APE Foundation.
To summarise, Apecoin does not yet have a large following, but it is backed by some well-known names. Yuga Labs, one of the more well-known names in the NFT world, is the primary company associated with Ape coin. Although it does not have a large amount of support, the future of Apecoin appears to be quite bright, given the popularity of the brand that it represents.
